Don’t Borrow Trouble Minnesota Campaign: 2003-2006
Homeownership represents the fulfillment of a dream for many families and individuals, but predatory lending often shatters this dream and places families at risk of homelessness, prevents the accumulation of wealth, and affects the stability of entire neighborhoods.
In response to an uptick in foreclosures due to predatory lending, Family Housing Fund collaborated with a wide array of partners to support the Don’t Borrow Trouble Minnesota Campaign. Launched in March 2003, the campaign combined education and counseling to help individuals and families become and remain successful long-term homeowners. Don’t Borrow Trouble aimed to empower consumers through multimedia advertising efforts, targeted community outreach, a consumer information line and website, and a strong referral network of housing counselors and others. This report summarizes the accomplishments of the campaign’s first two years.
The campaign reached tens of thousands of individuals, and over 1,000 consumers received one-on-one assistance. Homeowners reported to housing counselors that they were greatly impacted by the bold message of the campaign’s print materials and television commercials and they now can better spot red flags when searching for a loan.